NEAR Protocol’s House of Stake Votes to Cut Token Issuance 36%

NEAR Protocol’s House of Stake approved a 36% cut to the blockchain’s annual token issuance ceiling on Nov. 2, 2026, backing a two-year reduction that lowers dilution for NEAR holders while shrinking staking rewards for validators and investors securing the network. The governance vote directly affects the protocol’s inflation schedule, shifting the tradeoff between holder value and the incentives that keep validators participating. The change matters because reduced issuance can support NEAR’s token economics, but lower staking yields may test validator retention and delegation over the phase-in period. What to watch next is how the two-year reduction is implemented and whether staking participation and validator economics adjust without weakening network security.